Reinsured Risks definition

Reinsured Risks shall have the meaning specified in Section 2.1.

Reinsured Risks has the meaning set forth in the Reinsurance Agreement. “Representative” of a Person means the directors, officers, employees, advisors, agents, stockholders, consultants, independent accountants, investment bankers, counsel or other representatives of such Person and of such Person’s Affiliates.

Reinsured Risks means the whole or, as the case may be, such part of the insurance risks related to payment protection insurance business as are assumed or borne by the Company under or in connection with any and all insurance policies and contracts to which it is a party and which are in force at any time on or prior to the Termination Date.

Examples of Reinsured Risks in a sentence

• The Reinsurer’s liability with respect to the Reinsured Risks will terminate on the earliest of: (i) the date the Company’s liability with respect to the Reinsured Risks is terminated and all amounts due the Company from the Reinsurer with respect to such Reinsured Risks are paid to the Company by or on behalf of the Reinsurer; and (ii) the date this Agreement is terminated upon the written agreement of the parties.

• As consideration for the reinsurance by the Reinsurer of the Reinsured Risks under this Agreement, on the Closing Date the Reinsurer shall be entitled to an amount equal to one hundred percent (100%) of the Total SAP Ceded Reserves as of the close of business on the day immediately preceding the Inception Date (the “Initial Reinsurance Premium”).

• Upon the termination of the Reinsurer’s liability with respect to the Reinsured Risks referred to in Section 8.2 above, the parties shall mutually give the Trustee written notice of their intention to terminate the Trust Account.

• In the event that any such changes, amendments or modifications are made in any Reinsured Contract without the prior written approval of the Reinsurer, this Agreement will cover Reinsured Risks incurred by the Company under such Reinsured Contract as if the non-approved changes, amendments or modifications had not been made.

• For the avoidance of doubt, no retrocession by the Reinsurer of any Reinsured Risks shall relieve the Reinsurer of any of its obligations under this Agreement or the Trust Agreement.

More Definitions of Reinsured Risks

Reinsured Risks has the meaning set forth in Section 2.1(a). 46445052.5 1007063901v8

Reinsured Risks means that percentage of any and all contracts of insurance, reinsurance or retrocession written by either Agent in the name of Munich Re, National Indemnity (or members of their Groups set out in Part I of Schedule 2 or Part I of Schedule 3) solely in its capacity as fronting insurer for Converium under, pursuant to or in connection with (or purportedly under, pursuant to or in connection with) this Agreement (as such contracts may be amended from time to time) and irrespective of whether the acceptance of such contract was within the scope of the authority granted to the Agent by Munich Re or National Indemnity or members of their Groups set out in Part I of Schedule 2 or Part I of Schedule 3 under the terms of this Agreement or within the scope of (or in accordance with the terms of) the Pool Members’ Agreement and Reinsured Risk shall be construed accordingly. For the avoidance of doubt, Reinsured Risks shall not include the percentage of each policy issued under the Pool Members’ Agreement representing Munich Re’s or National Indemnity’s interest under the Pool Members’ Agreement;

Reinsured Risks means the Reinsurer’s Quota Share of the Retroceded Liabilities incurred by the Company.

Reinsured Risks means GMDB amounts payable by MetLife or the Company on --------------- the death of the owner, annuitant or continuing spouse, as applicable, under Reinsured Contracts in excess of the applicable Account Values (without regard to any "top up" pursuant to a spousal continuation benefit), net of Third Party Reinsurance, and limited in all events to (i) death benefits payable under contract provisions, endorsements or riders providing for an annual step-up death benefit based on anniversary date values, plus applicable waiver of surrender charges, and, with respect to the Assumed Contracts, to the extent that such risks are reinsured by the Company pursuant to the Reinsurance Agreements, and (ii) in respect of the Direct Contracts, the risks under the Direct Contracts that were previously reinsured by Exeter under the Indemnity Retrocession Agreement prior to the Mergers.

Reinsured Risks means GMDB amounts payable by the Company on the death of --------------- the owner, annuitant or continuing spouse, as applicable, under Reinsured Contracts in excess of the applicable Account Values (without regard to any "top up" pursuant to a spousal continuation benefit), and limited in all events to (i) death benefits payable under contract provisions, endorsements or riders providing for an annual step-up death benefit based on anniversary date values, plus applicable waiver of surrender charges and (ii) the risks under the Reinsured Contracts that were previously reinsured by Exeter under the Indemnity Retrocession Agreement prior to the Exeter Merger.

Reinsured Risks has the meaning set forth in Section 2.1. “Reinsurer” has the meaning set forth in the preamble. “Reinsurer Extra-Contractual Obligations” means all Extra-Contractual Obligations other than Ceding Company Extra-Contractual Obligations. “Reinsurer Indemnitees” has the meaning set forth in Section 10.2. “Reinsurer Receivables” has the meaning set forth in Section 3.2.

Reinsured Risks shall have the meaning set forth in Section 2.1. “Reinsurer” has the meaning set forth in the preamble. “Reinsurer Domiciliary State” means the State of Illinois, or, if the Reinsurer changes its domiciliary state within the United States, such other state. “Reinsurer Extra-Contractual Obligations” means all Extra-Contractual Obligations other than the Ceding Company Extra-Contractual Obligations. “Required Balance” means, as of any date of determination, an amount equal to 103% of the Statutory Reserves as of such date of determination. “Reserve Credit” means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in the Ceding Company’s Statutory Financial Statements required to be filed by the Ceding Company with the Governmental Entity charged with supervision of insurance companies in the Ceding Company Domiciliary State. “Reserve Credit Event” means the failure of the Ceding Company to receive Reserve Credit due to the failure of the Reinsurer (a) to remain licensed or accredited in the Ceding Company Domiciliary State or (b) to take all other actions so that the Ceding Company may obtain reserve credit within the time provided under and in accordance with Section 6.1. “SAP” means, with respect to either Party, the statutory accounting principles prescribed or permitted by the Insurance Regulator for the jurisdiction in which such insurance company is domiciled, consistently applied. “Security Funding Reporting Date” shall have the meaning set forth in Section 6.8(a). “Security Incident” shall have the meaning set forth in Section 6.8(a).